With 53 per
cent of small business owners saying that they spend between one and six hours per week chasing late payments, firms can take control by: Making sure there is a contract in
place which confirms payment times and then penalties if payment is late — such as interest
charges Offering a discount for prompt payment, dependent on the relationship with the purchaser Asking for payment up - front, or a deposit before work begins Talking to the purchaser before shipment to make sure that all sides know payment terms John Walker, National Chairman, Federation of Small Businesses, said: «There are always going to be companies that pay late, but there are steps that businesses can put in
place to make sure that they don't fall foul of the issue.
If you
placed a two - legged spread where one leg was a buyback for 10
cents or less, there will be no commissions
charged on the eligible contracts.